Director, Structuring – Non-Agency Residential Mortgages

Citigroup’s Non-Agency Residential Financing & Securitization Group (“Resi F&S”), a unit within Global Spread Products, is seeking to add a highly skilled and experienced Director of Structuring to its existing team. The Resi F&S group provides debt facilities, securitization and advisory services to our institutional clients and touches non-agency assets including seasoned performing, re-performing and non-performing loans, new origination prime and near prime loans, HELOC and closed end second mortgages, mortgage servicing rights, credit risk transfer pools, small balance commercial (SBC) loans and single family rental (SFR) and residential transition loan assets.  Existing clients are well capitalized non-bank originators, hedge funds, private equity funds, the GSEs, servicers, single family operators and REITs with expertise in originating, aggregating, and/or managing residential mortgage assets. 

As a Director, the candidate will lead the execution, quantitative modeling, and cash-flow structuring for a wide range of Non-Agency RMBS transactions, both for third-party clients as well as for Citi’s principal CMLTI business. 

Responsibilities:

• Deal Structuring & Execution: Lead the end-to-end structuring process, from the initial pitch through closing, for Non-Agency RMBS transactions

• Cash Flow Modeling: Create, modify and reverse engineer complex cash flow waterfalls, ensuring accurate structural mechanics (e.g. sequential/pro rata pay, shifting interest, deal triggers, and various credit enhancement mechanics)

• Intex Mastery:  Use Intex Deal Maker to construct deal models from scratch and run various stress testing and scenario analysis (CPR/CDR/severity grids)

• Rating Agency Process: Work in conjunction with the banking team to manage the rating agency process, providing and defending structural assumptions and cash flows

• Offering Document Coordination: Confirm all legal documentation correctly represents and aligns with the structural outputs 

• Team Leadership: Manage and mentor junior colleagues by providing detailed guidance and feedback

• Risk Assessment: Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues with transparency

Qualifications:

• Minimum of 6 years of relevant experience in structured finance

• Bachelor’s degree in a quantitative or financial discipline (Finance, Economics, Engineering, or Mathematics).  An advanced degree (MBA or MS) or CFA charter is a plus

• Advanced proficiency in Intex Deal Maker is required

• Deep understanding of Rating Agency methodologies

• Demonstrated problem solving and organizational skills

• Consistently demonstrates clear and concise written and verbal communication skills

• Ability to work with teams and track business development (collect research, analyze industry and pricing trends)

• Series 7, 79 and 63 licenses

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

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Job Family Group:

Institutional Trading

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Job Family:

Structuring

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Time Type:

Full time

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Primary Location:

New York New York United States

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Primary Location Full Time Salary Range:

$200,000.00 - $300,000.00

In addition to salary, Citi’s offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards. Citi offers competitive employee benefits, including: medical, dental & vision coverage; 401(k); life, accident, and disability insurance; and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and